NV5 Signs Definitive Agreement to Acquire Subscription-Based Geospatial Technology Business
HOLLYWOOD, Fla., Dec. 22, 2022 (GLOBE NEWSWIRE) — NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has entered into a definitive purchase agreement to acquire L3Harris Technologies, Inc.’s Visual Information Solutions commercial geospatial technology and software business (“VIS”).
This strategic move by NV5 further solidifies its position in the geospatial technology market. By acquiring VIS, NV5 will be able to enhance its suite of offerings and provide even more comprehensive solutions to its clients. The VIS business specializes in subscription-based geospatial technology, which will complement NV5’s existing services and allow for new opportunities for growth and innovation.
Geospatial technology plays a vital role in a wide range of industries, from urban planning to resource management to emergency response. By expanding its capabilities in this area, NV5 is positioning itself as a leader in providing cutting-edge solutions to its clients.
The Impact on Individuals
For individual customers, this acquisition may lead to improved access to advanced geospatial technology. NV5’s expanded offerings could result in more efficient and effective services, whether it be in the form of better urban planning solutions, more accurate resource management tools, or enhanced emergency response systems.
The Global Effect
On a global scale, NV5’s acquisition of VIS could have far-reaching implications. By bolstering its geospatial technology capabilities, NV5 is better equipped to address complex challenges on a global level. This could lead to more sustainable development practices, more resilient infrastructure, and more effective disaster response efforts worldwide.
Conclusion
Overall, NV5’s acquisition of VIS represents a significant step forward for the company and the geospatial technology industry as a whole. By integrating VIS’s subscription-based geospatial technology business, NV5 is poised to deliver even greater value to its clients and make a positive impact on both individuals and the world.
